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U.S. natural gas prices topped benchmarks in both Europe and Asia for the first time ever this week, giving buyers of U.S. LNG another reason to cancel cargoes. Front-month gas futures for June delivery at the Henry Hub benchmark in Louisiana settled over both the Japan/Korea Marker (JKM) and the …

The oil price has been predicted to hit $100 per barrel in around 18 months. The oil price will hit $100 per barrel in around 18 months. That’s what Orascom Investment Holding Chairman and CEO Naguib Sawiris believes, a new CNBC television interview has revealed. “I actually believe that in, …

Iraq has yet to inform its regular oil buyers of cuts to its exports, suggesting it is struggling to fully implement an OPEC deal with Russia and other producers on a record supply cut, traders and industry sources said. Less than full compliance by Iraq, as well as by smaller …

China National Petroleum Corporation (CNPC) has discovered a large natural gas field in the southwestern province of Sichuan, the government of Suining City said in a statement on Wednesday. “[It is] an important discovery. The potential reserves of natural gas in this settlement of Suining District may exceed one trillion …

The glut of natural gas could lead to more cancelled LNG exports in the next few months. “It is clear that yes we face today people talk lot about the oil market, but the gas markets are suffering a lot,” the CEO of Total SA, Patrick Pouyanne, told investors and …

Saudi Arabia will emerge as the victor of the oil price war that sent global crude markets into a spin last month, according to two experts in the energy industry. Jason Bordoff, professor and founding director of the Center for Global Energy policy at New York’s Columbia University, said: “While …

The United States will grant a 120-day waiver for Iraq to continue importing electricity from Iran to help the new Iraqi government succeed, U.S. Secretary of State Mike Pompeo told the newly installed Iraqi prime minister. “In support of the new government the United States will move forward with a …

Russia was still trying to stiff Poland on energy and gas prices in March and April despite a European court verdict that determined Russia overcharged Poland and should adjust its prices to fair market value. The Polish Oil Mining and Gas Extraction Company (PGNiG) won in the Court of Arbitration …

Russia’s oil output in the first five days of May fell to 8.75 million barrels per day (bpd), close to its production target of 8.5 million bpd for May and June under a global deal to cut crude supplies, two sources familiar with the data told Reuters. Together with gas …

Iraq has yet to inform its regular oil buyers of cuts to its exports, suggesting it is struggling to fully implement an OPEC deal with Russia and other producers on a record supply cut, traders and industry sources said. Iraq, OPEC’s second largest oil producer, has instructed its biggest company, …